Automatic Enrollment/Escalation—Is My Plan Grandfathered?
…following example. Planning Plus, Inc., established a new 401(k) plan effective 1/1/2023. The plan does not have an automatic enrollment feature. Is Planning Plus’s 401(k) plan grandfathered for purposes of the auto enrollment/escalation mandate? The answer is, “no.” Grandfathered plans, for this purpose, are defined…